Global Pen Needles Market, By Product Type (Standard Pen Needles, Safety Pen Needles), By Product Length (Nano Length, Medium Length, Long length), By Usability (Reusable Pen Needles, Disposable Pen Needles), By Application (Diabetes, Growth Hormone Deficiency, Others), By Therapy (Insulin, Glucagon-like peptide-1, Growth Hormones), By End-User (Hospitals, Clinics, OTC, Home Healthcare, Others), By Geography (North America, Europe, Asia-Pacific, Latin America, Rest of the World) – Industry Trends and Forecast to 2024
The global pen needles market has accounted for USD 1.9 billion in 2016, and is expected to reach USD 4.5 billion by 2024 growing at a CAGR of 11.6% in the forecast period of 2017 to 2024. The new market report contains data for historic years 2015, the base year of calculation is 2016 and the forecast period is 2017 to 2024.
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Insulin pens are the easiest and safest way to deliver insulin. Insulin pens are basically used with pen needles, which are gaining popularity every day over conventional insulin delivery methods. The usage of pen needles in insulin delivery is increasing owing to its benefits such as more convenient as can be used while travelling, easier to use and can be handled by any one, dosage given is more accurate, pain free and better discretion. The global pen needles market is expected to grow significantly owing to rising prevalence of diabetes and other chronic diseases. There is a shortage of trained professionals in developed countries which is encouraging patients to use self-use products such as pen needles
Some of the major Companies operating in the Global Pen Needles Market are:
- Becton, Dickinson and Company
- ADW Diabetes
- Novo Nordisk
- Menarini Diagnostics
- Ulticare
- Ypsomed Holding AG
- Facet Technologies
- Braun Melsungen AG
- Shanghai Neo-Medical Co. Ltd
- HTL-Strefa S.A.
- Frank Healthcare Co., Ltd
- Stat Medical Devices, Inc.
- Terumo Corporation
- Domrex Pharma Inc.
- Vogt Medical Vertrieb GmbH
- Artsana S.p.a
- Eli Lilly
- Owen Mumford Ltd
- KD Medical GmbH Hospital Products
- Allison Medical, Inc.
- Digital Medics Pty Ltd
- Ultimed, Inc. among others.
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Market Segmentation:
The global pen needles market is segmented into product type, product length, usability, application, therapy, end-user, and geography.
Based on product type, the global pen needles market is segmented into standard and safety pen needles.
On the basis of usability, the global pen needles market is segmented into disposable and reusable pen needles.
Based on product length, the market is segmented into nano length, medium length, and long length.
On the basis of application, the global pen needles market is segmented into diabetes, growth hormone deficiency, and others.
Based on end-user the market is segmented into hospitals, clinics, OTC, home healthcare, and others.
Based on the drug therapy, the pen needles market is segmented into insulin, glucagon-like peptide-1, and growth hormones.
Based on geography the Global Pen Needles Market is segmented into:
- North America
- Europe
- Asia-Pacific
- South America
- Rest of the world
The geographical regions are further segmented into 24 major countries such as U.S. Canada, Mexico, Germany, France, U.K., Belgium, Switzerland, Belgium, Turkey, Japan, China, Singapore, Brazil, India, Russia, South Africa and many others. North America is expected to dominate the market with 42.3% market share in 2016, owing to the favorable reimbursement scenarios and increasing trend of self-injection Injectable in this market.
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